Celestica Inc. (NYSE:CLS) Short Interest Update

Celestica Inc. (NYSE:CLS) (TSE:CLS) saw a significant increase in short interest during the month of November. As of November 15th, there was short interest totalling 3,410,000 shares, an increase of 15.6% from the October 31st total of 2,950,000 shares. Based on an average daily trading volume, of 2,300,000 shares, the short-interest ratio is presently 1.5 days. Currently, 3.0% of the shares of the company are sold short.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Wolff Wiese Magana LLC boosted its stake in Celestica by 32.1% in the 2nd quarter. Wolff Wiese Magana LLC now owns 700 shares of the technology company’s stock worth $40,000 after purchasing an additional 170 shares during the period. Optimum Investment Advisors boosted its position in shares of Celestica by 66.7% in the third quarter. Optimum Investment Advisors now owns 500 shares of the technology company’s stock worth $26,000 after buying an additional 200 shares during the period. Truist Financial Corp boosted its position in shares of Celestica by 2.0% in the second quarter. Truist Financial Corp now owns 11,008 shares of the technology company’s stock worth $631,000 after buying an additional 214 shares during the period. Whittier Trust Co. of Nevada Inc. grew its holdings in shares of Celestica by 26.6% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 1,307 shares of the technology company’s stock valued at $67,000 after buying an additional 275 shares in the last quarter. Finally, Pier Capital LLC raised its position in Celestica by 0.4% during the third quarter. Pier Capital LLC now owns 93,055 shares of the technology company’s stock valued at $4,757,000 after buying an additional 335 shares during the period. 67.38% of the stock is currently owned by institutional investors and hedge funds.

Celestica Price Performance

Shares of NYSE:CLS traded up $2.08 on Friday, reaching $85.24. 1,006,790 shares of the company traded hands, compared to its average volume of 2,531,811. The stock has a market capitalization of $9.92 billion, a PE ratio of 27.06 and a beta of 2.24. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.87. The company’s 50 day moving average is $68.66 and its 200-day moving average is $58.62. Celestica has a fifty-two week low of $25.83 and a fifty-two week high of $93.15.

Celestica (NYSE:CLS) (TSE:CLS) last announced its earnings results on Wednesday, October 23rd. The technology company reported $1.04 EPS for the quarter, beating the consensus estimate of $0.93 by $0.11. Celestica had a return on equity of 21.58% and a net margin of 4.08%. The business had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.41 billion. During the same period in the prior year, the business posted $0.65 earnings per share. Celestica’s revenue was up 24.8% compared to the same quarter last year. As a group, analysts anticipate that Celestica will post 3.44 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Barclays initiated coverage on Celestica in a research report on Tuesday, November 5th. They set an “overweight” rating and a $91.00 price target for the company. Royal Bank of Canada increased their target price on shares of Celestica from $65.00 to $75.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. BMO Capital Markets boosted their price target on shares of Celestica from $64.00 to $72.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. TD Securities upped their price target on shares of Celestica from $68.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Finally, Stifel Nicolaus raised their price objective on shares of Celestica from $58.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $71.45.

Celestica Company Profile

Celestica Inc provides supply chain solutions in North America, Europe, and Asia. It operates through two segments: Advanced Technology Solutions, and Connectivity & Cloud Solutions. The company offers a range of product manufacturing and related supply chain services, including design and development, new product introduction, engineering services, component sourcing, electronics manufacturing and assembly, testing, complex mechanical assembly, systems integration, precision machining, order fulfillment, logistics, asset management, product licensing, and after-market repair and return services.